Revising its projections for the current cotton season, the Committee on Cotton Production and Consumption (CCPC) has forecasted a significant rise in production and exports, bolstering optimism in the Indian cotton industry. With a revised estimate of 323.11 lakh bales for the current season, compared to the earlier 316.57 lakh bales, the industry is poised for growth amidst favorable market conditions.

Last season's production has been adjusted downward to 336.60 lakh bales, highlighting the importance of proactive management in response to market dynamics. Despite this adjustment, the CCPC maintains a positive outlook, projecting exports to surge to 27 lakh bales, up from 15.89 lakh bales in the previous season.

The increase in exports comes amid heightened international demand fueled by rising prices on the Intercontinental Exchange (ICE), New York. Indian cotton prices, quoted at Rs 61,500 per candy for the Shankar-6 variety, maintain a competitive edge against ICE May futures, which stand at approximately 93.33 US cents per pound.

With opening stocks projected at 61.16 lakh bales and reduced carryover stocks estimated at 52.27 lakh bales, the industry anticipates stability and growth in the coming months. This reduction in carryover stocks reflects a proactive approach to supply management, aligning with market demands.

The CCPC's projections underscore the industry's resilience and ability to capitalise on favorable international market conditions. With increased production and exports, coupled with competitive pricing strategies, the Indian cotton industry is well-positioned for expansion and revenue generation.